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Good Life Networks Inc (TSXV:GOOD), a Vancouver based programmatic advertising technology company announced its financial statements for the year ended December 31, 2017. As quoted in the press release: Financial Highlights Record revenue during the twelve months ended December 31, 2017increased 278% to $9,723,075 compared to $2,571,311 during the twelve months ended December 31, 2016; Gross profit during the twelve months …

Good Life Networks Inc (TSXV:GOOD), a Vancouver based programmatic advertising technology company announced its financial statements for the year ended December 31, 2017.

As quoted in the press release:

Financial Highlights

  • Record revenue during the twelve months ended December 31, 2017increased 278% to $9,723,075 compared to $2,571,311 during the twelve months ended December 31, 2016;
  • Gross profit during the twelve months ended December 31, 2017increased 800% to $4,334,670 from $481,795 during the twelve months ended December 31, 2016;
  • Gross margin as a percentage of revenue during the twelve months ended December 31, 2017 increased to 45% compared to 19% during the twelve months ended December 31, 2016, representing a 137% increase;
  • Record net income for the twelve months ended December 31, 2017 was $1,337,726 compared to a net loss of $3,000,692 during the twelve months ended December 31, 2016;
  • EBITDA for the twelve months ended December 31, 2017 was $1,716,189.

BUSINESS UPDATE

During fiscal year ending December 31, 2017, the Company achieved the following milestones:

  • GLN placed ads about three times faster than IAB standards (250 milliseconds, IAB Standard 700 milliseconds). This mean more ads are sold that are more accurately targeted and at a higher price creating more revenue for the company.
  • GLN completed 17 API Integrations into our patent pending exchange during 2017 expanding our global reach eightfold over 2016.
  • Placed nearly 1BN video ads
  • Increased capacity to allow for future additional integrations

Subsequent to Fiscal Year-End

  • Completed RTO transaction with Exito, and concurrently raised $9.2M of equity.
  • Granted patent pending status by the USPTO on several innovations related to our exchange platform, algorithms and blockchain design.

MOVING AHEAD

The Company continues to expand and execute its integration and acquisition strategy. During 2018, the Company plans on integrating with between 25 and 35 additional partners and plans to complete strategic acquisitions previously identified. To date, Good Life Networks Inc has been working on and completing the following initiatives:

  • March 8th, we continued our aggressive integration strategy by entering a commercial agreement with U.S. based Answer Media, giving us access to a global supply chain consisting of over one hundred million unique users and over three hundred publishers (websites on desktop and mobile).
  • March 22nd, we expanded into the U.K. with Advenue Limited (“Advenue”). Our agreement and integration with this London based company expands GLN’s global reach by up to nine new regions and includes access to over 4,000 mobile publishers across Android and iOS platforms.”
  • April 3rd, CEO Jesse Dylan and his team rang the bell at TSX to open the stock market marking GLN’s public listing on TSX-V under the stock symbol GOOD.
  • April 12th, GLN announced its listing on the Frankfurt Stock Exchange (third largest exchange globally in terms of volume of trading behind New York and NASDAQ) under the trading symbol 4G5.
  • April 19th, GLN entered into an Advisory Agreement with First Coin Capital (a Vancouver-based technology services company dedicated to advising established companies and providing access to the emerging digital currency asset class.) to assist in the detailed analysis and planning of the GLN accounts receivable (“AR”) Blockchain application.

Jesse Dylan, President and CEO commented, “A few years ago, I had the pleasure and honor of entertaining Don Miguel Ruiz (author of the international best-selling book The Four Agreements) in my home for dinner. One of Don Miguel’s Four Agreements is “Be Impeccable with Your Word,” the financial statements that we are releasing today to the market, to our shareholders, family and friends clearly demonstrate that we are executing our plan and being impeccable with our word. It will continue to be our honor and pleasure to execute the GOOD plan!”

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